form8-k.htm
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported):  August 27, 2008
 
BIOSPECIFICS TECHNOLOGIES CORP.
(Exact name of registrant as specified in its charter)

 
Delaware
0-19879
11-3054851
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
 
 
35 Wilbur Street
Lynbrook, NY  11563
(Address of Principal Executive Office) (Zip Code)

516.593.7000
(Registrant's telephone number, including area code)
 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR.425)

[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
Introductory Comment

Throughout this Current Report on Form 8-K, the terms “we,” “us,” “our” and “Company” refer to BioSpecifics Technologies Corp.

ITEM 1.01.         ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
 
On September 5, 2008, the Company announced its entry into an agreement to improve the deal terms related to its future royalty obligations for Peyronie’s disease by buying down its future royalty obligations with a one-time cash payment.  A copy of the press release is attached hereto as Exhibit 99.1.
 
A copy of the form of the agreement is attached hereto as Exhibit 10.1 and is incorporated by reference into this Item 1.01.  The foregoing description of the agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the agreement.
 
ITEM 9.01.          FINANCIAL STATEMENTS AND EXHIBITS
 
(d)           Exhibits
 
 
10.1
Agreement dated August 27, 2008 *
 
 
99.1
Press Release dated September 5, 2008
 
*  Portions of Exhibit 10.1 have been omitted pursuant to a request for confidential treatment.
 

 
SIGNATURES
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
 
     
     
Date: September 5, 2008
  
BIOSPECIFICS TECHNOLOGIES CORP.
——————————————————
(Registrant)
 
 
/s/ Thomas L. Wegman
   
——————————————————
Thomas L. Wegman
President
 
 
 
 
 
EXHIBIT INDEX
 
Exhibit No.
  
Description
     
10.1
  
     
99.1